Strongly advocating for a middle path for economy, the Finance Minister Mr. Pranab Mukherjee has assured the Rajya Sabha that only 10 per cent stake of profit making PSUs will be disinvested for now. PSUs of strategic importance will not be listed for public offering. Replying to the points raised by the members on a call attention motion by Mr. Tapan Kumar Sen and others in the House, the Finance Minister said that the timing for disinvestment will be decided in consultation with the experts to get the maximum benefit out of it. Expressing concern over the growing fiscal deficit, he expressed hope that it will be brought under control in a year's time. Mr. Mukherjee said that the proceeds from disinvestment will be used for funding social sector schemes. Earlier, Mr. Mukherjee said that department of disinvestment is in dialogue with the administrative ministries and central public sector undertakings to assess their capital expenditure requirements to be raised through fresh equity. He elaborated that the composition of public offerings will be based on this input and each case will be considered and later submitted for approval. He informed the house that the disinvestment of government share holding in NTPC, Rural Electrification Corporation and SJVN limited is under implementation and the process is likely to be completed by the end of this fiscal.
News On AIR | December 2, 2009 8:57 AM
Profit making PSUs to be divested of only 10 % stake: Govt.